12 Best Energy Stocks To Invest In Now

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2. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Investors: 71

Occidental Petroleum Corporation (NYSE:OXY) is a leading energy company specializing in oil and gas exploration, production, and marketing, with operations primarily in the United States, the Middle East, and Latin America. The company’s customer base includes refiners, utilities, and industrial users. Occidental Petroleum Corporation (NYSE:OXY) holds significant assets in the Permian Basin, particularly in Texas and New Mexico.

Occidental Petroleum Corporation (NYSE:OXY) has significantly bolstered its position in the Permian through the acquisition of CrownRock, which added high-quality assets and a talented team to its portfolio. This acquisition has not only expanded the company’s footprint but has also provided new opportunities for operational improvements and cost efficiencies. For instance, Occidental Petroleum Corporation (NYSE:OXY) has leveraged its supply chain expertise to reduce material costs and is optimizing well spacing to improve recovery rates.

Occidental Petroleum Corporation (NYSE:OXY) is also making significant strides in the development of low-carbon technologies, particularly in direct air capture (DAC). The company is constructing the world’s largest DAC facility, with an initial capacity of 250,000 tons of CO2 per year, set to come online in mid-2025.

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